Losses widens at Irish lender

IRISH Life & Permanent’s banking arm has reported a wider full-year loss due to soaring impairment charges ahead of a split from the group’s life division and a government decision on whether it can remain as a standalone lender. Its loss after tax, including a gain of €1bn (£831m) on imposing losses on junior bondholders, was €424m compared with one of €321m a year ago after impairments more than trebled to €1.4bn.